Reduced tax rate permissible under federal amendment

Va. Code Ann. § 60.2-537
in effect
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Notwithstanding the provisions of §§ 60.2-500 through 60.2-536 , if § 3303 of the Internal Revenue Code is amended so as to allow an additional credit under § 3302 (b) of the Internal Revenue Code to employers not otherwise eligible for a reduced rate by reason of the lapse of insufficient time since first becoming subject to this title, the Commission, by a regulation promulgated under § 60.2-111 , shall fix and determine the tax rate of all such employers at such reduced rate as shall then be permissible under such federal amendment. Code 1950, § 60-76.1; 1956, c. 440; 1968, c. 738, § 60.1-90; 1986, c. 480.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://law.lis.virginia.gov/vacode/60.2-537/Fetched: 10/17/2026

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